3. Solving for Rates What annual rate of return is earned on a $2,700 investment when it grows to $5,900 in ten years?

7.36%

8.13%

1.19%

2.19%

9.Future Value of Multiple Annuities Assume that you contribute $230 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $330 per month for another 20 years. Given a 7.5 percent interest rate, what is the value of your retirement plan after 40 years?